Tether Commits $127.5M to Help Drift Users Recover After Exploit

Published by

Sohrab Khawas

April 16, 2026

Tether Commits $127.5M to Help Drift Users Recover After Exploit

Tether is partnering with Drift Protocol and other backers to help users recover funds after the April 1 exploit, which resulted in about $285 million in losses. The support package includes up to $127.5 million from Tether and an additional $20 million from partners. It also features a $100 million revenue-linked credit line, ecosystem grants, and market maker loans. A recovery pool funded by exchange revenue and support capital will aim to cover nearly $295 million in user losses and restore impacted balances.

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

Published by

Sohrab Khawas

Tags: Crypto news